ChainCatcher reports, according to Coinglass data, if Ethereum falls below $2,900, the cumulative long position liquidation intensity on major CEXs will reach $395 million. Conversely, if Ethereum breaks above $3,000, the cumulative short position liquidation intensity on major CEXs will reach $497 million.
The liquidation chart does not show the exact number of contracts awaiting liquidation or the precise value of contracts being liquidated. The bars on the liquidation chart actually represent the relative importance, or intensity, of each liquidation cluster compared to nearby clusters. Therefore, the liquidation chart illustrates the extent to which the underlying price reaching a certain level will be affected. A higher “liquidation bar” indicates that once the price reaches that point, a more intense reaction will occur due to liquidity waves.
